Dexter Exploration is in the business of drilling offshore oil wells. What would economists call the production period over which Dexter could locate new oil fields, move its equipment to them, and drill wells?
a. the long run
b. the short run
c. the margin run
d. the fixed term
a. the long run
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Of the types of business organizations in the United States, corporations account for ________ percentage of revenues and ________ percentage of profits
A) the largest; the largest B) the smallest; the largest C) neither the largest nor smallest; the largest D) largest; neither the largest nor smallest
The immediate impetus for the establishment of the Federal Reserve System came from
a. severe outbreaks of inflation in the early 1900s. b. four severe banking panics between 1873 and 1907. c. the discovery of gold in Alaska. d. the desire to copy the founding of the Bank of England.
The Agriculture industry is often used as an example of a competitive market model. However, of the four conditions required for perfect competition, one is clearly not present in farming. Which one is the least applicable and why does it not fit the model?
What will be an ideal response?
If $2 = 1 euro, then the equivalent U.S. dollar price of a vase selling for 30 euros in France is ______.
a. $10 b. $15 c. $30 d. $60